Private Equity

PE Fund Investments

NIIF to invest Rs.675-Cr in GMR Group's new int'l airport at Andhra's Bhogapuram

Press Release  

National Investment and Infrastructure Fund (NIIF) is planning to invest up to INR 675 crore on the upcoming greenfield international airport at Bhogapuram in Andhra Pradesh, which is being developed by the GMR group. NIIF will invest in Compulsorily Convertible Debentures (CCDs) to be issued by GMR Visakhapatnam International Airport Ltd (GVIAL), a step down special purpose vehicle subsidiary of publicly listed GMR Airports Infrastructure Ltd, that is to develop and operate the Bhogapuram International Airport to the north of Visakhapatnam under a 40-year design-build-finance-operate-and-transfer model.